SHOP Stock Recent News

Shopify Inc (TSX:SH., NYSE:SHOP) shares plunged almost 19% lower in premarket trading after the e-commerce platform reported first-quarter results came with guidance for potentially slower growth and lower margins in the coming quarter.

Shopify (SHOP) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.01 per share a year ago.

The Canadian e-commerce company beat on the top and bottom line, but it gave downbeat guidance for the second quarter.

Shopify stunned investors after reporting a surprise loss for the first three months of the year. The e-commerce platform posted a $273 million loss for the first quarter.

Shopify stock (NYSE: SHOP) has received a boost following the release of strong first-quarter 2024 financial results. The SHOP stock had taken a beating in the pre-market hours, dropping by −12.61 (16.37%) from the previous market close of $77.37 to $64.44 on 8 May, 07:19 GMT-4.

Shopify Inc.'s stock SHOP tumbled 18% early Wednesday, after the commerce infrastructure provider swung to a surprise first-quarter loss, offsetting a revenue beat. The company posted a net loss of $273 million, or 21 cents a share, for the quarter, after income of $68 million, or 5 cents a share, in the year-earlier period.

Shopify (SHOP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Shopify's (SHOP) first-quarter 2024 performance is expected to reflect benefits from the growing adoption of merchant-friendly solutions despite the challenging macro environment.

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Get a deeper insight into the potential performance of Shopify (SHOP) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.